crisis within a structural VAR framework. An expansionary balance sheet shock stimulates bank lending, stabilizes financial …

-structural VAR where an expectation shock is identified as that which causes measured expectations to diverge from rationality. Using … data for the United States, we find that a positive inflation expectations shock is deflationary and contractionary …

intermediation turns an otherwise diversifiable source of idiosyncratic economic uncertainty, the ‘risk shock’, into a systemic force …

crisis within a structural VAR framework. An expansionary balance sheet shock stimulates bank lending, stabilizes financial …

Post-1990 periods. First, I find that a monetary shock and an NBER recession shock differently affect firms' short …-term financing behavior. During recent periods, after a contractionary monetary shock, large firms increase their short-term debt … more than small firms, whereas after an NBER recession shock, large firms decrease most balance sheet variables (including …

bank balance sheets contract, if geopolitical risk is above its sample median in the quarter or month of the shock. The …